Nium Raises Over $200 Million in Series D Funding

Nium | July 27, 2021

Nium, a leading worldwide B2B payments platform, today announced it has raised a US$200+ million Series D round led by Riverwood Capital – a U.S.- based high-development tech investor. Temasek, Visa, Vertex Ventures, Atinum Group of Funds, Beacon Venture Capital, Rocket Capital Investment, and other notable angel investors, including DoorDash executive, Gokul Rajaram; Chief Product Officer at FIS, Vicky Bindra; and, Co-Founder of Tribe Capital, Arjun Sethi, also contributed to the round. Nium's present valuation is above US$1 billion, making it the main B2B payments unicorn from Southeast Asia. The funding will be used to expand Nium's payments network framework, drive innovative product development, attract top industry ability, and obtain strategic advances and companies. Total cash raised by Nium to date, including this Series D, stands at almost US$300 million.

Nium has established its platform as the preferred connection to the worldwide payments foundation. Serving hundreds of big business customers, and with plans to onboard thousands more, Nium will utilize the Series D funds to expand its specialized foundation and add new embedded fintech administrations. Through a single API, Nium provides admittance to the world's installment foundation, including innovations for pay-outs, pay-ins, card issuance, and banking-as-a-administration. Once connected, Nium customers can send funds to in excess of 100 countries (most progressively), pay out in excess of 60 monetary forms, acknowledge funds in 7 monetary standards, and issue cards in excess of 40 countries. Foundational to Nium is its permit portfolio, possessing the most complete arrangement of cash move, card issuance and banking licenses in fintech, with administrations accessible in 11 jurisdictions.

"We started Nium with the humble goal of taking out regional complexity in cross-border payments," said Prajit Nanu, Nium's Co-founder and CEO. "Today, our sights are set higher. We believe we can be a global catalyst to increase global commerce, removing some of the payments friction which has traditionally held businesses back. The Nium platform simplifies the B2B payments experience by enabling critical financial services to be easily embedded - helping today's local market players become tomorrow's global giants."

Nium's business has altogether scaled in the previous year. Nium processes US$8 billion in payments every year. It has issued in excess of 30 million virtual cards to date. Revenues developed by in excess of 280% year-over-year. With revenues split similarly across EMEA and APAC, Nium will utilize funds from this round to accelerate development in the United States and Latin America. Achievement will be driven by two late strategic acquisitions, including the procurement of movement B2B payments leader, Ixaris, which added comprehensive virtual card issuance capacities to the Nium platform, just as the securing of Wirecard Forex India Private Limited, which gives Nium greater venture into India's flourishing payments market. The Series D investment provides the adaptability to investigate additional strategic chances.

"Nium has built an extremely rare global footprint of licensed infrastructure that brings the world closer to global real time gross settlement," added Alex Porto, Principal, Riverwood Capital. "We believe that Nium is on track to be a central component of the global fabric, providing faster and more democratic money movement and we look forward to supporting their growth in this next phase."

About Nium
Nium is a leading B2B financial services technology platform that seamlessly connects businesses to the world's payment infrastructure with a single API. Nium's modular platform removes the complexity from global payments and allows banks, payment providers, travel companies, and other businesses to embed financial services, including technologies for pay-outs, pay-ins, card issuance, and banking-as-a-service, in weeks, not months. Once connected to the Nium platform, businesses have the ability to collect and disburse funds in local currencies to over 100 countries, plus issue physical and virtual cards globally. Nium owns licenses in 11 of the world's largest and fastest-growing jurisdictions to enable seamless global payments, regardless of geography.

About Riverwood
Riverwood Capital invests in high-growth companies in the technology and technology-enabled industries. Riverwood offers a unique combination of operational, strategic, technology, and financial insight to portfolio companies that typically need growth capital and expertise to scale on a global basis. The firm seeks to invest in established businesses with a proven technology and business model, and the proper fit in terms of culture and values.


Traditionally, Chief Financial Officers (CFOs) have provided control and compliance oversight. In the last decade however, the role of CFOs has evolved into that of a strategic partner to the broader executive team, providing real insight to the company’s growth planning process. “For the past decade, companies have had to contend with a series of large-scale macroeconomic disruptions,: along with pressures on costs and earnings.


Traditionally, Chief Financial Officers (CFOs) have provided control and compliance oversight. In the last decade however, the role of CFOs has evolved into that of a strategic partner to the broader executive team, providing real insight to the company’s growth planning process. “For the past decade, companies have had to contend with a series of large-scale macroeconomic disruptions,: along with pressures on costs and earnings.

Related News


Monument Bank and Persistent Partner in the Creation of New Digital Banking Infrastructure

Monument Bank and Persistent | August 03, 2022

Monument Bank, UK's first neo bank focused on the needs of the ~4.8 million 'mass affluent', has partnered with Persistent Systems, a Global Digital Engineering provider to build a bespoke, cloud-native digital banking platform for lending and deposit services to support Monument's ongoing operations. Monument's target clients are usually pressed for time and often feel underserved and undervalued by other banking providers. Monument's mission is to help its clients prosper and optimise their time by offering smart, efficient and flexible solutions. Persistent was engaged in the designing and planning of Monument's technology systems and subsequently helped construct the Bank's bespoke systems architecture using a flexible building block approach. This approach enables new components to be added and swapped over time to take advantage of the latest innovations, allowing Monument to choose and integrate multiple SaaS based core component technologies. Monument is dedicated to providing exceptional, high-value customer service, enabled by a host of innovative, industry verticalised, cloud technology solutions. Persistent has been instrumental in advancing the Bank's strategic goals by helping to build the Bank's architecture that combines services with an adaptable, cloud-based platform, including components to provide core banking, CRM, payment services, AML/KYC, general ledger and regulatory reporting. Monument is focused on the 'mass affluent' client market, which includes business professionals, entrepreneurs, and property investors. Having received its full banking license in November, Monument quickly launched its property investment lending and an initial range of savings products using advanced in-app capabilities for client interactions. It will continue to enhance its range of products and services to serve the evolving needs of its mass affluent clients. "Monument's ambition has always been to create a significant financial institution for the mass affluent market in the UK, recognising the future opportunities to better serve the needs of the mass affluent in other jurisdictions." -John Saunders, Chief Commercial Officer, Monument Bank. Becoming a bank was a huge challenge but we were delighted to achieve this during a pandemic. It requires significant investment of both time and money to accomplish and it didn't make sense for us to take on the journey alone. We wanted a solutions partner to help us bring Monument to life and it was evident from our discussions with the Persistent team that they not only had a very strong understanding of the banking ecosystem, but were willing to build a strong partnership with us from the get-go. As a result, we have built an integrated ecosystem and platform that not only supports Monument, but also has the potential to power other banks in the future and with a partner like Persistent, we can rapidly enable that, saidSteve Britain, Chief Operating Officer, Monument Bank. Customers today want simple and seamless experience. Modern, improved and automated process plays a crucial role in meeting these expectations. Neo banks such as Monument can provide a tailored, specialised offering, giving their customers the flexibility and services they need. However, the architecture required to deliver simple and seamless experiences is complex, which calls for a trusted partner to help engineer and integrate the technology that makes it possible. Our 'digital mosaic' approach enables technology solutions that simplify processes and offer flexibility to the customers. Thus, allowing Monument to accelerate its development and focus on building a substantial mass affluent business, saidJaideep Dhok, SVP & General Manager, Banking, Financial Services & Insurance, Persistent. About Monument The company takes its name from the Monument, a globally recognised commemoration of the Great Fire of London and celebration of the rebuilding of the capital. It represents the end of the old era and a transition to modernity and the future as wooden buildings were replaced with the newer, stronger structures that are now synonymous with the City's longevity and security. And many people don't appreciate the Monument was also built to serve as a giant telescope to enable a level of vision that didn't exist previously. About Persistent With over 21,500 employees located in 18 countries, Persistent Systems is a global services and solutions company delivering Digital Engineering and Enterprise Modernization. Persistent was named to the Forbes Asia Best Under a Billion 2021 list, representing consistent top-and bottom-line performance as well as growth.

Read More


Alkami Partners with Array to Enable Financial Institutions Boost Digital Engagement

Alkami | June 10, 2022

On June 9th, Alkami Technology, a prominent cloud-banking digital solutions provider in the U.S., announced an alliance with Array, an innovation platform specializing in financial services. Following the partnership, Alkami Technology will be able to offer Array’s range of solutions to their client base, comprising of My Credit Manager, Offers Engine, and ID Protect. Improving the digital-first banking experience is a top priority for banks and credit unions. Our partnership with Array enables banks and credit unions to provide added-value products to account holders, which increases engagement and potentially revenue as well.” Stephen Bohanon, Founder, Chief Strategy & Product Officer of Alkami Alkami offers financial and banking services with a wide berth of digital banking solutions focused on user-onboarding, account servicing, and engagement. Array is known for promoting financial literacy and providing offerings that help customers understand, navigate, and secure their credit. The time is now for community banks and credit unions to accelerate their digital transformation so they can continue to offer a differentiated level of personal service. Today’s success formula for personal service includes a mix of in-branch experiences and digital tools that add value to account holders every time they log in. Alkami and Array are making it easier than ever to help banks and credit unions deploy a consistent roadmap of innovative digital products for account holders.” Martin Toha, co-founder and CEO of Array

Read More


Security Bank Accelerates Modernization of Core System’s APIs with OpenLegacy

Security Bank | July 05, 2022

OpenLegacy, provider of the industry’s most advanced legacy integration solution, today announced the results of its digital modernization project with Security Bank, a leading domestic universal bank in the Philippines. The modernization program, which began in late 2020, reduced time to deployment by one third, with OpenLegacy’s team averaging a complete integration every three days. A traditional modernization route can take up to one month per API, taxing internal developers and raising costs. With OpenLegacy, Security Bank can offer digital services to market quickly and affordably, driving customer satisfaction, cutting costs, and realizing greater value of its existing mainframe investment. “We needed to accelerate the digital transformation of our services to stay competitive. OpenLegacy modernized integration points of various mission-critical internal systems quickly to ensure our customers get the modern, digital-first experience they’ve come to expect, Our partnership with leading technology providers such as OpenLegacy, brings us closer to achieving our vision to be the most customer-centric bank in the Philippines.” -Ric Torres, Chief Technology Officer at Security Bank Corporation. OpenLegacy empowered Security Bank to efficiently build new digital services and generate business-level APIs with the ease of cloud, said Joseph Wong, General Manager, APAC and Japan at OpenLegacy. We are excited to continue to help them unlock core system data in a streamlined fashion. About OpenLegacy- OpenLegacy offers a cloud-first legacy modernization platform. OpenLegacy Hub delivers high ROI with a simple, disruption-free, method to generate, extend and manage digital services from legacy systems to the cloud. Jumpstart and optimize your modernization journey and follow it through, no matter the chosen strategy: modernizing in place (hybrid), rehosting/replatforming or even replacing and rewriting the entire application. Each can be simplified and automated to perfect the process drastically eliminating complexity, time, cost, and risk. OpenLegacy’s robust modernization platform is designed to address the painful challenges of complexity, unique skills, and mission-critical stability that core legacy systems (such as mainframe) present in the cloud journey. OpenLegacy is used by many of the world’s leading enterprises, including Citi, Scotiabank, Liberty Mutual, DBS, and Standard Chartered, to name a few. Visit About Security Bank- Security Bank is a private domestic universal bank in the Philippines with total assets of PHP700 billion as of December 31, 2021. Established in 1951, Security Bank currently has a total of 316 branches and 663 ATMs. Security Bank’s major citations in 2021 include: Philippines’ Best Bank by Euromoney; Best for High Net Worth Clients (HNW) in the Philippines by Asiamoney; Best Retail Bank in the Philippines by Alpha Southeast Asia; and Best Culture of Learning and Diversity Champion by LinkedIn Talent Awards.

Read More